| Maturity: |
Two years to ten years. |
| Lockout Period: |
Three months to seven years. |
| Lockout Date: |
The date specified in the related application. |
| Conversion Date: |
Initially the Lockout Date, and if a Bermudan option, thereafter periodically at the conversion Date Frequency. |
| Minimum Size: |
$5 million. |
| Interest Rate: |
Determined on an individual transaction basis: from issuance until conversion, a floating rate which resents at the Reset Frequency based on a spread to LIBOR; after conversion, a fixed rate as pre-determined in the related application for advance. interest is payable and charged to the member's DID account on the fifth calendar day of each month using the following business day convention. |
| Day Count Fraction: |
Actual/360. |
| LIBOR: |
The rate per annum for deposits in U.S. dollars (relative to the related interest period) having a tenor equal to the Payment Frequency, which appears on Telerate Page 3750 as of 11:00 a.m. London time, on any given date that a LIBOR determination is necessary. |
| Reset Frequency: |
During the floating rate period, the interest rate will be reset monthly (quarterly, semiannual, or annual frequency may be priced upon request.) |
| Option Type: |
Either Bermudan or European. |
| Conversion Date Frequency: |
Quarterly (monthly, semi-annual, or annual frequency may be priced upon request.) |
| Conversion Notice Date: |
Five business days prior to the relevant Conversion Date, from and including the Lockout Date, up to but excluding the Maturity date, in each case subject to the following business day convention. |
| Conversion Exercise: |
At the option of the Federal Home Loan Bank of Chicago. |
| Notification to Borrower: |
The Federal Home Loan Bank of Chicago will notify borrowers by facsimile if it exercises its conversion option on the Conversion Notice Date. |
| Prepayment: |
Permitted pursuant to standard FHLBC policy. |
| Availability: |
Same-day funding is available for transactions initiated prior to 2 p.m. (Chicago time.) |
| Commitment: |
Optional draw forward commitments are available at market rates for up to six months. Mandatory forward commitments are available for up to six months. |
| CICA: |
Available. |
About Us
Publications
Printer Friendly Page